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You invest $5000 in an account at 5.5% per year simple interest. How much will you have in the account after 5 years? Round your answer to the nearest whole dollar. a. $6252 b. $6507 c. $6375 d. $6138
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You invest $5000 in an account at 5.5% per year simple interest. How much will you have in the account after 5 years? Round your answer to the nearest whole dollar.

a. $6252
b. $6507
c. $6375
d. $6138

User Juhani
by
8.0k points

1 Answer

2 votes
Simple Interest = PRT/100

5000 x 5.5 x 5 / 100 = $1375
$5000 + $1375 = $6375

Ans: C
User Daniel Watkins
by
8.4k points
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